Publication

Abstract : This paper focuses towards agent based Locational Marginal Pricing (LMP) which will minimize the overall system cost and relieves congestion on transmission lines in a deregulated electricity market. For the analysis, agents are classified in terms of market traders, Independent System Operator (ISO) linking to the IEEE 5-Bus system which would suggest the LMP to take care of the congestion cost happening in the system. The market operates on a day-ahead basis. The ISO allocates the bids and the offers from the traders by performing DCOPF (DC-Optimal Power Flow), calculates the LMP based on congestion, dispatch the units based on optimal system cost. The market model considered in this work is Pool-Co type. The analysis is carried out on the platform of Agent Based Modeling of Electricity Systems (AMES) software. The AMES is a tool developed under Java platform for modeling deregulated electricity market operating over an AC transmission grid which outperforms other tools. Later the impact of market clearing price in a deregulated power market was also discussed. A case study on IEEE 30 bus system based on congestion management is also further analyzed. The results show great potential of agent based computational model in a restructured electric power industry.